Regaal Resources IPO Subscribed Over 150 Times On Final Day — Check GMP, Other Details

Regaal Resources Ltd.'s initial public offer has been subscribed 152.60 times on its final day of offer on Thursday, led by demand from non-institutional buyers.

The IPO was fully subscribed within hours of launch on the first day. The portion for retail and non-institutional investors was overbooked.

The mainboard IPO is a book-building issue worth Rs 306 crore. The IPO is a combination of a fresh issue of 2.06 crore shares worth Rs 210 crore and an offer for sale of 94 lakh shares, amounting to Rs 96 crore.

The price band is set at Rs 96 to Rs 100 per share. Qualified institutional buyers will be offered a maximum of 50% of the offer. The company has reserved 35% of the net issue for retail investors and 15% for non-institutional investors.

Pantomath Capital Advisors Pvt. is the book-running lead manager of the Regaal Resources IPO. MUFG Intime India Pvt. is the registrar for the issue.

• Issue opens: Aug. 12.

• Issue closes: Aug. 14.

• IPO allotment date: Aug. 18.

• Issue type: Book-building issue.

• Issue size: Rs 306 crore.

• Fresh issue: Comprises 2.06 crore shares, worth Rs 210 crore.

• Offer for sale: Comprises 94 lakh shares, amounting to Rs 96 crore.

• Lot size: 144 shares.

• Price band: Rs 96 to Rs 100 per share.

Regaal Resources' IPO has been subscribed 152.60 times as of 3:36 p.m. on Thursday.

• Qualified Institutions: 178.44 times.

• Non-Institutional Buyers: 352.38 times.

• Retail Investors: 54.22 times

Regaal Resources' grey market premium is at Rs 26 apiece as of 2:30 p.m., according to data on the InvestorGain website. The estimated listing price is Rs 128 apiece, which implies a 25% listing gain from the issue price.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisers and read red herring prospectus thoroughly before placing bids.